TIM CEO says any consolidation depends on new regulations

SAO PAULO, Oct 28 (Reuters) - Brazil needs to update its regulations for fixed-line telephone concessions to pave the way for long-term investments and possible consolidation of market players, the chief executive of wireless carrier TIM Participações SA said Wednesday.

"For any consolidation, there are some conditions from a regulatory and legal standpoint before that can happen," TIM CEO Rodrigo Abreu said at an industry event, echoing comments from the chief executive of TIM's controlling shareholder on Tuesday. (Reporting by Luciana Bruno; Editing by Chizu Nomiyama)